Gravita India Ltd.
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ABOUT
AI Sector View
AI GENERATEDMetals & Mining
The sector backdrop is mixed. Iron ore output was very strong at 29.5% YoY (2026-07), but steel slowed to 2.9% YoY (2026-07), finished steel consumption was 8.0% YoY (2026-06), and headline mining production was still -0.9% (Jul/26). FPI outflows of INR -2349 crore over 3 months to 2026-08-31 also argue against an aggressive overweight.
PROS
- Company has delivered good profit growth of 56.0% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 27.7%
- Company has a healthy return on capital (ROCE) of 26.1%
- Company has delivered good sales growth of 23.2% CAGR over last 5 years
- Working capital cycle has improved - days down from 135 to 75
- Company comfortably covers its interest (38.4x coverage)
CONS
- Operating cash flow has been negative in recent years
- Promoter holding has decreased over last 2 years: -7.5pp
- Receivables are growing faster than sales - a possible quality concern
- Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT 0.37x)
- Total debt has risen sharply - up 3877.5% year on year
- Stock is trading at 5.3x its book value
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| HINDZINC | 606.00 | 15.00 | 256054.33 | 1.65 | 5469.00 | 144.81 | 13747.00 | 81.10 | 69.83 | 58.56 |
| HINDALCO | 1025.00 | 14.05 | 230340.72 | 0.49 | 7013.00 | 75.15 | 84825.00 | 32.06 | 10.45 | 16.43 |
| VEDL | 273.80 | 5.44 | 107066.43 | 12.42 | 7918.00 | 77.65 | 24205.00 | -35.34 | 18.72 | 35.12 |
| HINDCOPPER | 532.35 | 45.29 | 51479.52 | 0.54 | 352.37 | 162.47 | 936.50 | 81.36 | 39.44 | 54.17 |
| VOGL | 36.26 | 0.00 | 14179.07 | 0.00 | 9450.00 | — | 25070.00 | — | 0.00 | 32.47 |
| GRAVITA | 1697.80 | 31.97 | 12531.20 | 0.37 | 106.37 | 14.30 | 1475.06 | 41.84 | 17.18 | 7.44 |
| JAINREC | 295.70 | 28.27 | 10204.19 | 0.00 | 69.41 | 22.79 | 2724.46 | 75.86 | 25.74 | 3.97 |
| CMRGREEN | 217.30 | 22.41 | 4760.08 | 0.00 | 68.18 | — | 3122.73 | 91.98 | 13.41 | 4.33 |
| POCL | 467.00 | 24.98 | 3562.19 | 0.43 | 358.80 | 42.58 | 9348.90 | 55.08 | 23.32 | 5.97 |
| ARDEE | 53.39 | 19.87 | 1682.86 | 0.00 | 199.03 | — | 3388.11 | — | 49.04 | 9.90 |
| ONIXSOLAR | 454.20 | 27.85 | 1674.54 | 0.00 | 208.97 | — | 945.10 | — | 32.85 | 29.74 |
| BHAGYANGR | 409.40 | 21.82 | 1371.34 | 0.00 | 20.24 | 167.37 | 705.08 | 45.20 | 9.17 | 5.43 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 654 | 705 | 599 | 721 | 757 | 786 | 819 | 860 | 851 | 852 | 864 | 915 | 860 | |
| 609 | 643 | 551 | 676 | 706 | 734 | 773 | 786 | 779 | 762 | 789 | 838 | 797 | |
| Operating Profit | 44 | 62 | 48 | 44 | 51 | 52 | 46 | 74 | 71 | 90 | 75 | 76 | 64 |
| OPM % | 6.80% | 8.82% | 8.09% | 6.17% | 6.75% | 6.61% | 5.63% | 8.58% | 8.40% | 10.54% | 8.66% | 8.36% | 7.39% |
| 17 | -1 | 23 | 16 | 2 | 18 | 5 | 22 | 20 | 19 | 22 | 16 | 21 | |
| Interest | 10 | 7 | 8 | 7 | 6 | 7 | 7 | 1 | 1 | 3 | 2 | 3 | 5 |
| Depreciation | 3 | 3 | 3 | 3 | 4 | 4 | 4 | 4 | 4 | 4 | 5 | 5 | 6 |
| Profit before Tax | 48 | 51 | 60 | 50 | 43 | 59 | 40 | 91 | 86 | 102 | 90 | 84 | 84 |
| Tax % | 19.23% | 14.06% | 15.65% | 5.82% | 16.23% | 14.75% | 14.00% | 19.25% | 20.90% | 14.72% | 20.06% | 17.18% | 19.44% |
| Net Profit | 39 | 44 | 50 | 47 | 36 | 51 | 34 | 74 | 68 | 87 | 72 | 70 | 68 |
| 5.61 | 6.30 | 7.31 | 6.80 | 5.19 | 7.32 | 4.90 | 9.96 | 9.21 | 11.81 | 9.78 | 9.45 | 9.23 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 533 | 787 | 1,059 | 1,172 | 1,226 | 1,894 | 2,524 | 2,679 | 3,223 | 3,481 | 3,491 | |
| 494 | 729 | 1,018 | 1,108 | 1,164 | 1,814 | 2,423 | 2,479 | 2,999 | 3,169 | 3,186 | |
| Operating Profit | 39 | 58 | 41 | 65 | 62 | 81 | 102 | 200 | 224 | 313 | 305 |
| OPM % | 7.30% | 7.35% | 3.91% | 5.51% | 5.09% | 4.25% | 4.03% | 7.47% | 6.94% | 8.98% | 8.73% |
| 2 | 1 | 12 | -1 | 12 | 7 | 60 | 53 | 47 | 77 | 79 | |
| Interest | 9 | 18 | 23 | 27 | 26 | 30 | 34 | 32 | 23 | 10 | 13 |
| Depreciation | 3 | 5 | 7 | 9 | 9 | 9 | 11 | 13 | 15 | 18 | 19 |
| Profit before Tax | 28 | 36 | 24 | 28 | 40 | 49 | 116 | 208 | 233 | 363 | 361 |
| Tax % | 18.89% | 29.81% | 21.35% | 20.40% | 20.35% | 18.46% | 12.99% | 13.74% | 16.65% | 18.08% | 17.73% |
| Net Profit | 23 | 25 | 19 | 22 | 32 | 40 | 101 | 180 | 194 | 297 | 297 |
| EPS | 3.33 | 3.69 | 2.75 | 3.25 | 4.66 | 5.76 | 14.65 | 26.01 | 26.30 | 40.25 | — |
| Dividend Payout % | 17.86% | 18.89% | 10.88% | 21.54% | 23.61% | 52.11% | 29.70% | 0.00% | 19.77% | 15.78% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 26%
- 5 Years:
- 23%
- 3 Years:
- 11%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 57%
- 5 Years:
- 56%
- 3 Years:
- 43%
STOCK PRICE CAGR
- 10 Years:
- 50%
- 5 Years:
- 53%
- 3 Years:
- 29%
- 1 Year:
- 2%
RETURN ON EQUITY
- 10 Years:
- 23%
- 5 Years:
- 28%
- 3 Years:
- 28%
- Last Year:
- 17%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 14 | 14 | 14 | 14 | 14 | 14 | 14 | 14 | 15 | 15 |
| 101 | 121 | 135 | 150 | 175 | 194 | 295 | 443 | 1,580 | 1,832 | |
| 156 | 200 | 216 | 229 | 211 | 326 | 297 | 277 | 19 | 339 | |
| Trade Payables | 14 | 56 | 108 | 79 | 132 | 75 | 105 | 188 | 164 | 141 |
| 14 | 22 | 12 | 9 | 55 | 160 | 157 | 169 | 167 | 248 | |
| Total Liabilities | 297 | 413 | 485 | 481 | 587 | 769 | 868 | 1,091 | 1,944 | 2,575 |
| 54 | 82 | 107 | 117 | 115 | 140 | 177 | 203 | 216 | 319 | |
| Capital Work in Progress | 23 | 14 | 9 | 3 | 5 | 15 | 14 | 8 | 25 | 19 |
| 29 | 17 | 24 | 15 | 10 | 9 | 10 | 9 | 534 | 935 | |
| 86 | 125 | 133 | 154 | 260 | 358 | 394 | 485 | 431 | 604 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 214 | 204 | 252 | |
| Cash & Bank | 8 | 9 | 10 | 7 | 7 | 7 | 9 | 2 | 279 | 49 |
| 97 | 165 | 201 | 184 | 190 | 240 | 264 | 169 | 256 | 397 | |
| Total Assets | 297 | 413 | 485 | 481 | 587 | 769 | 868 | 1,091 | 1,944 | 2,575 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| -8 | -10 | 59 | 27 | 59 | -11 | 116 | 91 | 168 | -8 | |
| Cash from Investing | -40 | -10 | -34 | -0 | -2 | -41 | -22 | -15 | -783 | -308 |
| Cash from Financing | 52 | 27 | -18 | -22 | -50 | 61 | -68 | -82 | 666 | 267 |
| 3 | -2 | 2 | -3 | 1 | -1 | 6 | -6 | 52 | -48 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-09 - Gravita India Limited has informed the Exchange about Copy of Newspaper Publication
2026-09-07 - Gravita India Limited has informed the Exchange about Schedule of meet
2026-09-03 - Gravita India Limited has informed the Exchange about outcome of meeting
2026-09-03 - Gravita India Limited has informed the Exchange about Copy of Newspaper Publication
2026-09-02 - Gravita India Limited has informed the Exchange about outcome of meeting
2026-09-02 - Gravita India Limited has informed the Exchange about General Updates
2026-09-02 - Gravita India Limited has informed the Exchange regarding 'Book closure'.
2026-09-02 - Gravita India Limited has informed the Exchange regarding 'Business Responsibility and Sustainable Report (BRSR)'.
2026-09-02 - Gravita India Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 28, 2026
News
Recent coverage and analyst commentary for GRAVITA
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